SKF India (Industrial) Ltd

SKF India (Industrial) Ltd announced a change in designation for Mr. Sujeeth Pai from Whole-Time Director to Managing Director, effective September 1, 2026. This appointment is subject to shareholder approval. Mr. Pai, who holds a Mechanical Engineering degree and an MBA, brings over 20 years of experience in driving business growth and profitability. He is not related to any existing directors or promoters. The company will seek shareholder approval within three months of the appointment date.

SKF India (Industrial) Ltd has announced the appointment of Mr. Mukund Vasudevan as a Non-Executive, Non-Independent Director, effective September 1, 2026. This appointment is subject to shareholder approval. Mr. Vasudevan previously resigned as Managing Director on August 31, 2026. He brings over 25 years of experience in P&L management, strategy, sales, and M&A across India, the Middle East, and the USA. He holds a Bachelor of Technology from IIT Mumbai and an MBA in Finance and Strategy from the University of Chicago. The company has confirmed he is not debarred from holding a director's office by any authority.

SKF India (Industrial) Limited announced the appointment of Sujeeth Pai as its new Managing Director, effective September 1, 2026, subject to shareholder approval. The Nomination Committee and Board of Directors approved the appointment on August 11, 2026. Pai will succeed Mukund Vasudevan, who will move to a regional leadership role within the SKF Group. Pai brings extensive leadership experience from SKF and previous roles at Danfoss Drives India, Tektronix, and Fluke, with a background in Mechanical Engineering and an MBA from ISB. SKF is a global leader in bearings, seals, and related services, focused on reducing friction for energy efficiency and sustainability.

SKF India (Industrial) Limited announced its unaudited financial results for the first quarter ended June 30, 2026. Revenue from operations grew by 18.3% year-on-year to ₹9,707.7 million from ₹8,206.3 million in the corresponding quarter of the previous year. Profit before tax (PBT) stood at ₹869.2 million, a decrease of 10.5% compared to ₹970.9 million in Q1 FY26. The company cited continued demand traction across Wind, General Machinery, and Agriculture sectors. Management highlighted steady execution and resilience, attributing growth to customer centricity, localization, and innovation, despite headwinds from currency and demerger-related expenses.

SKF India (Industrial) Ltd has announced the appointment of Ms. Anagha Godse as the company's Internal Auditor, effective August 11, 2026. This decision was made based on the recommendation of the Audit Committee and approved by the Board of Directors. Ms. Godse brings approximately 27 years of experience in finance, costing, internal controls, risk management, and assurance functions, holding qualifications as a Cost and Management Accountant (CMA) and a Certified Fraud Examiner (CFE). Her expertise spans across automotive and industrial sectors, focusing on control gaps and risk management.

SKF India (Industrial) Ltd has announced its intention to open a new branch office. The company sought approval from its Board of Directors at a meeting held on August 11, 2026, to establish this new office. The proposed location for the branch is Millennium Towers, Unit — 701, 7th floor, Tower 3, Wakad, Pimpri-Chinchwad, Pune, Maharashtra. This expansion is part of the company's ongoing business operations and strategic growth.

SKF India (Industrial) Ltd announced an interim dividend of ₹20 per equity share for the financial year 2026-27. The record date for this dividend has been fixed as August 17, 2026. The company's Board of Directors also approved the unaudited financial results for the first quarter ended June 30, 2026, with an unmodified opinion from auditors Deloitte Haskins & Sells LLP. Additionally, the board accepted the resignation of Mr. Mukund Vasudevan as Managing Director, effective August 31, 2026, due to a role change within the SKF Group. He will be appointed as a Non-Executive Director from September 1, 2026.

SKF India (Industrial) Ltd announced a change in designation for Mr. Sujeeth Pai from Whole-Time Director to Managing Director. This change is effective from September 1, 2026, subject to shareholder approval. Mr. Pai will serve a term of five years. He replaces Mr. Mukund Vasudevan, who resigned due to an internal role change within the SKF Group. Mr. Pai brings over 20 years of experience in driving growth and profitability, with a background in Mechanical Engineering and an MBA. He is not related to any existing directors or key managerial personnel.

SKF India (Industrial) Ltd has announced the appointment of Mr. Mukund Vasudevan as a Non-Executive, Non-Independent Director, effective September 1, 2026. This appointment is subject to shareholder approval and follows a recommendation from the Nomination and Remuneration Committee. Mr. Vasudevan previously resigned as Managing Director on August 31, 2026. He brings over 25 years of experience in P&L management, strategy, sales, and M&A across India, the Middle East, and the USA. He holds a B.Tech from IIT Mumbai and an MBA from the University of Chicago. The company confirmed he is not related to any existing directors or key personnel and is not debarred from holding a directorship.

SKF India (Industrial) Ltd announced that its Managing Director, Mr. Mukund Vasudevan, has resigned from his position. The resignation is effective from the closure of business hours on August 31, 2026. The reason cited for his departure is a change in role within the broader SKF Group. Mr. Vasudevan confirmed that there are no other material reasons for his resignation and expressed gratitude to the Board for their support during his tenure. The company will initiate necessary formalities to formalize his discontinuance as Managing Director.